On March 10, CBSA testified in the House Health and Insurance Committee in opposition to HB23-1225, Extend And Modify Prescription Drug Affordability Board (PDAB). While CBSA shares the bill sponsors’ goal of improving the affordability of medicines for patients, we are concerned the uncertainty and unpredictability created by this bill will make it harder for the companies in our life sciences ecosystem to raise the capital they need to support research, development, and commercialization of new therapies. We also fear this bill will make it harder for patients to access medicines that have a state-mandated upper payment limit (UPL).
CBSA opposed SB21-175, the original PDAB bill, because of the concern that, by limiting reimbursement for the few new drugs that do get approved, the flow of capital that fuels biomedical innovation will stall.
CBSA is now concerned that HB23-1225 would prematurely expand the PDAB’s authority…
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